Online gambling is any type of gambling conducted online. This includes online casinos, live casinos and poker. The first online gambling site opened to the public, was ticket selling for the first Liechtenstein International Poker Tournament in October 1994. Since then there have been online gambling sites opening each year with more variety and games available. Some sites cater specifically to a certain group of people, such as Poker Professionals while others are open to everyone.
All online gambling sites allow their clients to make transactions by phone, fax and through personal computer mail. These transactions are protected by several layers of security to prevent hacking and fraud. All transactions are fully secure and will go through a series of security checks before the money can be deposited. Most internet gambling sites use digital certificates for transactions. This serves as a security measure to ensure that the transaction went through. In addition, some sites use codes that cannot be duplicated or copied to ensure integrity of the transactions.
There is very little information available concerning the current status of various pieces of legislation governing online gambling. Most states lack comprehensive regulations because they are unable to pass comprehensive laws. At the state level, only a few states regulate online gambling, including Connecticut, Delaware, Iowa, Kentucky, Maryland, Massachusetts, Montana, New Hampshire, New Jersey, New Mexico, New York, North Dakota, Oregon, Pennsylvania and Utah. Many other states, as well as the District of Columbia, are attempting to regulate but currently have no law regulating the activities of dfs operators. There is also little or no information available regarding which states have taken action on which acts.
One piece of legislation regulating online gambling that has been introduced in the past few years is the Bank Secured Gaming Enforcement Act. This Act would allow FDIC insured banks to provide information on any player who uses their accounts to wager a service from a site on their property. In the past, a player could be prosecuted if they used a site owned by a bank to wager an internet casino poker game. The intention of the act is to put the onus on the gaming site to police their own properties.
Another piece of legislation prohibits online casinos from using personal logos or advertising on their web pages. It also requires the companies to provide accurate and adequate disclosure of all gaming-related activities, with specific instructions on how such activity may be taxed. This is referred to as the Gambling Innovation Act. This Act prohibits gambling companies from using logos, trade names or corporate branding on their webpages except where permitted by the applicable authority. It also requires the companies to provide detailed quarterly reports to the appropriate House of Representatives and the Senate, and submit them to the Secretary of State for review and approval.
Finally, another piece of legislation preventing online gambling refers to the Gambling Performance Act. It specifies that all licensed states must have regulated success rates for licensed poker rooms. Regulated success rates are defined as the percentage of players at licensed tables that won money at that specific table over one hundred times during the previous twelve months. If a state fails to have a regulated success rate, that particular state’s online casino will lose its regulation, and will not be allowed to register in the state. The purpose of the Gambling Performance Act is to create uniformity among states regarding online casinos regulation.